San Francisco-based Kraken has been ranked as the largest bitcoin trading platform , based on its euro volume and liquidity. It also allows for the trading of Canadian dollars and British pounds.
Kraken landed in the international scene in 2011, and was the first Bitcoin exchange to have trading price and volume displayed in the Bloomberg Terminal. Kraken was also recognized for being the first Bitcoin exchange to be subject to a cryptographically verified proof-of-reserves audit. Kraken is also the trustee of the Tokyo government and Germany’s BaFin-regulated Fidor Bank.
Accolades aside however, Kraken is yet another one of the many exchanges that users can buy and sell Bitcoin.
How good is Kraken?
The following review will bring you up-to-speed.
Kraken’s public opinion poll has mixed results.
The good: Positive reviews of Kraken largely credit the exchange with being able to trade and have a smooth experience. The software for trading is not the best, but most positive reviews do note this. Kraken’s international accessibility makes it a top choice for many international users.
The bad: A quick Google search reveals a slew of vehemently negative reviews about the exchange and Kraken’s customer service. Remember that negative reviews often come from customers who have had an unpleasant experience and decided to vent on the internet. These reviews might not be true representations of the platform, but there are still positive experiences. Kraken’s negative reviews primarily point out the inability to provide customer service, which makes it frustrating. Some users also report slow withdrawals and limited access to funds.
Kraken Review: Key Information
|Site Type||Cryptocurrency Exchange|
|Company Location||San Francisco, CA, USA|
|Deposit Methods||Bank Transfer, Cryptocurrency|
|Withdrawal Methods||Bank Transfer, Cryptocurrency|
|Available Cryptocurrencies||Bitcoin, Ethereum, Litecoin, and 14+ More|
Owned by Payward, Inc. and having received millions from investors, Kraken is one of the largest cryptocurrency exchanges.
Kraken has a fairly large variety of cryptocurrencies (more so than Coinbase), and makes it easy for international traders.
To get started, you will need to be verified by Kraken. Users are divided into tiers that specify how much they can deposit each day. Each tier has its own set of requirements.
A point of interest is that the Kraken portfolio provides you with either a USD, EUR, etc amount that your portfolio is worth.
Ordering on Kraken is relatively simple using their basic interface, but their trading tools provide a more robust functionality should you choose to use them. Limit orders and market orders can be placed. Limit orders typically come with a 0. 16% fee, and market orders come with a 0. 26% fee. Fees vary depending on how many trades are made. The fees for the main trading pairs are typically between.1% to.2%. 35%, and for other less common crypto pairs the range can be anywhere between . 05% and .75%. Liquidity traders get 0% fees
Additionally, you can trade do margin trading but this is an incredibly risk way of going about it and not recommended unless you really (REALLY) know what you’re doing.
Kraken has plenty of fiat and cryptocurrency pairs. Instead of buying BTC and then going to a secondary exchange to purchase a specific alt-coin, people can directly buy cryptos using USD and EUR. This is one advantage Kraken has over Coinbase or other exchanges that limit you to a few cryptocurrencies and fiat/crypto pairings.
Withdrawals are relatively straightforward on the platform. You can withdraw money directly to your bank account by simply going to the withdrawal section. SEPA is also available for Euro withdrawals if you have a European bank account. This costs only 9 cents.
The withdrawal and deposit fees vary depending on the method but generally hover around 0. 19% with a $20 minimum. For Japanese Yen, however, there is a minimum deposit of 5000 Yen with no transaction fee for deposit, but it takes 20 Yen to withdraw.
Security: Kraken allows you to set up 2 Factor Authentication (2-FA), but you must go to the Security tab to do so. You can’t be too secure, so if Kraken is used, make sure you enable 2-FA.
Kraken Review Summary
Kraken has been in the cryptocurrency exchange world since 2011, a year before its more popular (in the United States) competitor Coinbase. Kraken is a well-respected cryptocurrency exchange that has been around for a long time and is a popular choice among many international traders.
While many online reviews highlight the problems and kinks that the Kraken team must work out (mainly the lack of customer service), Kraken is still a valuable asset to traders in the United States and around the world.
It’s a secure platform that has played a significant role in the development of cryptocurrency. Kraken offers lower fees than Coinbase and allows you to access a more robust trading platform within Kraken. You will need to have a basic understanding of how to trade cryptocurrency, but you should watch some guides to ensure that you know how to do it correctly.
Mint-free OKX Football Cup NFTs for group stage games enter the second round
The second round of group-stage games at the FIFA World Cup 2022 began today. Users can still mint free OKX Football Cup NFTs until the FIFA 2022 Group stage ends Get a chance to redeem stakes and collect rewards by December 20. FIFA World Cup group stage games enter the second round The second round…
- The second round of group-stage games at the FIFA World Cup 2022 began today.
Users can still mint free OKX Football Cup NFTs until the FIFA 2022 Group stage ends
Get a chance to redeem stakes and collect rewards by December 20.
FIFA World Cup group stage games enter the second round
The second round of the group stage games for the FIFA World Cup in Qatar is underway. There were some big upsets in the first round, with Saudi Arabia winning against Argentina and Germany losing against Japan.
The second round of games started today and the chances for the host nation to qualify for the knockout round are virtually nonexistent.
You have the chance to get OKX Football NFTs for free as the world cup continues. A week ago, crypto exchange OKX announced the launch of its NFT Football Cup.
The OKX Football Cup is part of the crypto exchange’s ‘The OKX Football Festival,’ and it is giving millions of fans around the world the opportunity to earn from a great prize pool.
With this competition, users can mint free NFTs of their preferred teams and use the NFTs to predict matches and stand a chance to win huge prizes.
NFT minting will end after the group stages
The free minting of the NFTs began on November 21st and will end on December 3rd. All users can participate in minting as long as there are group stages. Users must stake 0.01 for each mint. 01 ETH. You can create up to three teams prior to the group stage. With the first round of games producing some shocking results, you can look at the tables so far and partake in the OKX Football Cup.
Each match offers a fixed prize pool of 20,000 USDT. OKX revealed that it adds 10 USDT for every NFT minted, thus, growing the prize pool.
As an NFT owner, you will earn a share of the $20k in USDT if your team wins a match. However, when the teams draw, each side will share $10,000 in USDT
Participants will also have the option of redeeming their full stakes at the completion of the OKX Football Cup.
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BNB recovers above a critical level. Do we need to wait for another bullish push?
Binance token rose by 17% on Wednesday. The crypto exchange has announced the sale of HOOK tokens on Binance Launchpad. BNB eyes $330 next and is a buy on a retracement As Binance coin (BNB/USD) slipped below $266, it signalled the start of a bearish market. Since July, BNB has maintained the level and any…
Binance token rose by 17% on Wednesday.
The crypto exchange has announced the sale of HOOK tokens on Binance Launchpad.
BNB eyes $330 next and is a buy on a retracement
As Binance coin (BNB/USD) slipped below $266, it signalled the start of a bearish market. Since July, BNB has maintained the level and any decline below could have given bears complete control. However, it is now not the case as BNB trades at $295, well above the crucial level. It is possible that cryptocurrency may be heading for the next level. What happened then?
The gains in BNB happened after November 23 cryptocurrency news. BNB’s price rose by 17% on the day after the exchange announced the Hooked Protocol (HOOK) token sale on Binance Launchpad. This is the 29th project launching on Binance Launchpad.
According to the announcement, the token sale will occur through a lottery and conclude on December 1. 25 million HOOK coins have been allocated to the launchpad, equivalent to 5% of the total supply.
This latest development comes as Binance continues to reassure users following the collapse of FTX. Binance announced Thursday that it would contribute $1 billion to help protect crypto-related firms. Binance has committed to increasing this amount if necessary and will look to include traditional financial institutions. This fund is the result of a series of measures that are designed to ensure users have sufficient reserves in case of a crypto confidence crisis.
BNB price action as token hits a 2-week high
BNB rose from a low of around $250 to a 2-week high of $303. The $266 has been re-established as the immediate support for the cryptocurrency.
A bullish MACD crossover was initiated after the bullish push. The RSI also moved above its midpoint, which suggests that BNB has attracted a lot more buyers since the breakout. The cryptocurrency is consolidating ahead the next move.
Should you buy BNB now?
Buyers may not be done with BNB, with the area around $330 and $360 as the next target. However, if intending to buy BNB, wait for some correction to snap it lower. This consolidation could lead to a correction before the next bullish leg.
Where to buy BNB
eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users have the ability to connect with, learn, copy, or get copied from other users.
Binance is one of the largest cryptocurrency exchanges in the world. It is better suited to more experienced investors and it offers a large number of cryptocurrencies to choose from, at over 600.
Binance is known for its low trading fees and multiple trading options. These include margin trading, peer-to-peer, spot trading, and margin trading.
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Bitcoin Mining Pool Btc.com Suffers $3 Million Cyberattack
A major cryptocurrency mining pool was attacked by hackers in early March, according to the pool’s owner. The hackers stole digital assets worth $3 million from the pool and its clients.
Chinese Authorities Open Investigation into Crypto Mining Pool Hack
A subsidiary of Bit Mining, a coin minting company, was the victim in a hacking attack. The company released a press release. The affected entity is a leading bitcoin mining pool, Btc.com, which in the past week accounted for over 2.5% of the pool distribution and has a share exceeding 4% on annual basis.
According to the announcement published Monday, Dec. 26, the platform was hit on Dec. 3, 2022. As a result, $2.3 million worth of digital assets owned by the company and another $700,000 in asset value belonging to its clients were stolen.
The cyberattack has been reported to law enforcement in Shenzhen, China on Dec. 23. With the support of other agencies Bit Mining highlighted that the Chinese authorities are investigating the incident and collecting evidence.
The company will devote considerable efforts to recover the stolen digital assets.
The mining company stated that certain crypto assets of Btc.com were already secured. It pointed out that it had implemented technology to better intercept and block hackers after discovering the breach.
Btc.com is currently operating its business as usual, and apart from its digital asset services, its client fund services are unaffected.
Besides the top-10 mining pool, which provides mining services for bitcoin (BTC), ether (ETH), and litecoin (LTC), Bit Mining Limited also owns the mining device manufacturer Bee Computing and operates coin minting facilities.
Since the Chinese government cracked down on the industry in the spring of 2021, Bit Mining has sought to expand its activities in Kazakhstan, which has become a major crypto mining hotspot. In August of this year, the company announced it had secured a $9.3 million registered direct offering from institutional investors.
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What are your thoughts on the hacking attack against the bitcoin mining pool Btc.com? Please leave your thoughts in the comments below.
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Disclaimer: This article is for informational purposes only. This article is not intended to be a solicitation or offer to buy or sell any products or services. Bitcoin.com does not provide investment, tax, legal, or accounting advice. The author and the company are not responsible for any loss or damage resulting from or related to the use or reliance of any content, goods, or services in this article.
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